Cohen & Steers Inc. lifted its stake in Shell Midstream Partners, L.P. (NYSE:SHLX – Get Rating) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,376 shares of the pipeline company's stock after purchasing an additional 6,642 shares during the period. Cohen & Steers Inc.'s holdings in Shell Midstream Partners were worth $1,427,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. grew its holdings in Shell Midstream Partners by 18.2% during the 1st quarter. Invesco Ltd. now owns 1,300,000 shares of the pipeline company's stock worth $18,486,000 after acquiring an additional 200,000 shares during the period. Hsbc Holdings PLC acquired a new stake in Shell Midstream Partners during the 1st quarter worth $1,928,000. ING Groep NV grew its holdings in Shell Midstream Partners by 52.8% during the 1st quarter. ING Groep NV now owns 548,000 shares of the pipeline company's stock worth $7,793,000 after acquiring an additional 189,400 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Shell Midstream Partners in the 1st quarter valued at $791,000. Finally, Gabelli Funds LLC acquired a new position in shares of Shell Midstream Partners in the 1st quarter valued at $1,068,000.
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Shell Midstream Partners Stock Performance
SHLX opened at $15.81 on Monday. The stock has a market capitalization of $6.22 billion, a P/E ratio of 13.07 and a beta of 1.32. Shell Midstream Partners, L.P. has a 12 month low of $10.76 and a 12 month high of $16.08. The firm's fifty day simple moving average is $15.35 and its 200 day simple moving average is $14.53. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.74.
Shell Midstream Partners (NYSE:SHLX – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The pipeline company reported $0.33 EPS for the quarter. The business had revenue of $149.00 million for the quarter, compared to analysts' expectations of $132.81 million. Shell Midstream Partners had a net
margin of 97.11% and a return on equity of 98.64%. The firm's revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, research analysts anticipate that Shell Midstream Partners, L.P. will post 1.52 EPS for the current fiscal year.
Shell Midstream Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Tuesday, August 2nd were given a $0.30 dividend. The ex-dividend date was Monday, August 1st. This represents a $1.20 annualized dividend and a yield of 7.59%. Shell Midstream Partners's dividend payout ratio is currently 99.17%.
Analysts Set New Price Targets
Separately, Mizuho boosted their price target on shares of Shell Midstream Partners from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.75.
Shell Midstream Partners Company Profile
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Shell Midstream Partners, L.P. owns, operates, develops, and acquires pipelines and other midstream, and logistics assets in the United States. It owns interests in crude oil and refined products pipelines and terminals to transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets.
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